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Federal Bank Ltd. (India) ( (IN:FEDERALBNK) ) has shared an update.
Federal Bank Ltd. has announced the issuance of warrants through a preferential issue on a private placement basis, subject to necessary approvals. This strategic move involves issuing over 27 crore warrants to Asia II Topco XIII Pte. Ltd., allowing the investor to subscribe to equity shares, potentially raising significant capital for the bank. Additionally, the bank’s board has approved granting a special right to the investor to nominate a non-executive director, contingent on certain conditions. An Extra Ordinary General Meeting is scheduled to seek shareholder approval for these initiatives, which could impact the bank’s governance and capital structure.
More about Federal Bank Ltd. (India)
Federal Bank Ltd. is a prominent banking institution in India, offering a range of financial services including retail and corporate banking, treasury operations, and other financial services. The bank is focused on expanding its market presence and enhancing its service offerings to cater to a diverse clientele.
Average Trading Volume: 349,525
Technical Sentiment Signal: Buy
Current Market Cap: 553.3B INR
Find detailed analytics on FEDERALBNK stock on TipRanks’ Stock Analysis page.